Some say shrinkflation is a sneaky strategy because businesses use the same packaging but give customers less, arguing it’s an attempt to deceive them. But many are making sure changes are available for consumers to see in some format. It’s the consumer’s responsibility to check the pack, but communication with buyers is key.
Starting a business is no light feat. It takes nerves, determination and resilience that only entrepreneurs who have gone through it will understand. Here are five stages small businesses need to know to gain success.
Walmart reported a disappointing earnings picture for the first quarter, blaming inflation, overstaffing, excess inventory and supply chain issues as the key culprits that sent profits below what analysts had been expecting. The top retailer reported $2.05B, in net income, down from $2.73B a year ago; ecommerce inched up 1%.
Amazon said it is closing six Whole Foods locations, a rare pullback after the parent company reported a disappointing Q1 loss of $3.8 billion that helped send markets tumbling on April 29. The stores being closed are located in Montgomery and Mobile, AL, Tarzana, CA, Brookline, MA and two in Chicago.
About 6,000 customer records from Home Depot, acquired by a hacker in 2020, are being offered for free on the dark web, according to the company, while a firm that tracks such activity claimed a substantially higher figure. The information included addresses, phone numbers, delivery records, brands purchased and orders.
Amazon is taking another step to build its ecommerce fulfillment domination by allowing its 200 million-plus Prime members to purchase products from other retailers, who will be charged fees to offer Prime-like services like free two-day and next-day delivery.
Even as consumers return to physical stores and discover newfound enthusiasm for in-person shopping, ecommerce will continue to grow. But several major aspects of doing business have changed for ecommerce brands – customer, competition and operations. To stay competitive, become attuned to what these mean.
Digital Brands Group, owner of apparel labels such as ACE Studios, Stateside and Bailey 44, is warning of its viability as a going concern due to mounting losses while hinting at the possibility of a bankruptcy filing, less than a year after going public. The company did tout a 425% jump in Q4 revenue and growth in January and February.
Bed Bath & Beyond has come to terms with activist investor Ryan Cohen and his firm RC Ventures, agreeing to add three board members put forward by Cohen in exchange for a “standstill agreement” that RC Ventures won’t seeking a doubling of its interest in the retailer.
With heady revenue predictions for retail media north of $100 billion, it’s not surprising to see a surge of retailers opening advertising shops in attempts to capture share. But we’re still in the early days, with behemoths scooping up most of the brand spend. Here are six relationship and revenue-building strategies for retailers to consider.